The nation’s benchmark interest rates will hold steady at the current 5.25% to 5.5% range as the inflation target of 2% remains the goal, the Federal Open Market Committee (FOMC) announced today (January 31).
“The committee judges that the risks to achieving its employment and inflation goals are moving into better balance. The economic outlook is uncertain, and the committee remains highly attentive to inflation risks,” the FOMC, the central bank’s rate-setting group, said in a statement at the end of its two-day monetary policy meeting. This is the fourth consecutive meeting in which the FOMC has left rates unchanged.
